John Hancock Preferred Income Fund II (NYSE:HPF) Stock Passes Below 50 Day Moving Average of $16.35

Shares of John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.35 and traded as low as $16.21. John Hancock Preferred Income Fund II shares last traded at $16.31, with a volume of 142,892 shares traded.

John Hancock Preferred Income Fund II Stock Performance

The company’s 50 day simple moving average is $16.35 and its two-hundred day simple moving average is $15.60.

John Hancock Preferred Income Fund II Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 11th will be paid a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 9.09%. The ex-dividend date is Wednesday, April 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG boosted its stake in shares of John Hancock Preferred Income Fund II by 5.6% in the third quarter. UBS Group AG now owns 202,650 shares of the company’s stock valued at $2,932,000 after purchasing an additional 10,761 shares during the period. International Assets Investment Management LLC boosted its stake in shares of John Hancock Preferred Income Fund II by 1,366.2% in the fourth quarter. International Assets Investment Management LLC now owns 195,601 shares of the company’s stock valued at $3,087,000 after purchasing an additional 182,260 shares during the period. Axim Planning & Wealth boosted its stake in shares of John Hancock Preferred Income Fund II by 90.0% in the first quarter. Axim Planning & Wealth now owns 167,193 shares of the company’s stock valued at $2,764,000 after purchasing an additional 79,193 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 59.2% in the fourth quarter. Koshinski Asset Management Inc. now owns 133,072 shares of the company’s stock valued at $2,100,000 after purchasing an additional 49,466 shares during the period. Finally, Golden Green Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 2.5% in the third quarter. Golden Green Inc. now owns 40,524 shares of the company’s stock valued at $586,000 after purchasing an additional 979 shares during the period.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.